Rates

Undergraduate 

The Annual Percentage Rate (APR) for our undergraduate private education line of credit is variable1 and is based on the Prime index2 plus a margin.

The current offered rate3 will be between 9.50% and 11.00% APR.

Your Interest Rate4 is calculated by adding the Index plus a Margin5, subject to a minimum APR (Floor). The Floor rate is in effect any time the Interest Rate is below your assigned Floor rate.

All loans subject to approval and restrictions may apply. We reserve the right to change rates for new applications at any time and without notice.

Credit union membership and a minimum share deposit is required. Contact us for membership details.

 

  1. The Annual Percentage Rate is subject to increase after consummation. Your interest rate is variable and may be adjusted quarterly on each January 1, April 1, July 1 and October 1 (Adjustment Date) based on the Prime index as published in the Wall Street Journal on the first business day of the month immediately prior to the Adjustment Date (e.g., December, March, June and September). Any increase in the index may increase the APR and the amount of your monthly payment.

  2. The "Index" for the quarter beginning October 1st, 2018, is 5.00%, which was the Prime index published in the Wall Street Journal on the first business day of September 2018.

  3. Current offered rate(s) are calculated by using the Index, Margin and Floor value(s) in effect. Your specific Interest Rate, Margin, Floor, and/or credit approval depends upon the credit qualifications of the student borrower and co-borrower (if applicable). Student borrowers may apply with a creditworthy co-borrower which may result in a better chance of approval and/or lower interest rate.

  4. The APR will not exceed 15.00%, or fall below the Floor rate regardless of the Index. Any increase in the Index may increase the APR and the amount of your monthly payment. 

  5. Margin will be disclosed at account opening. 


 

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